HomePoliticsThe Banking Crisis Gets Worse – Over 20 Private Jets Land In...

The Banking Crisis Gets Worse – Over 20 Private Jets Land In Nebraska

Published on

Following the failure of two banks in the past week, the remainder of the banking industry is in turmoil.

Silicon Valley Bank (SVB) on the west coast and Signature Bank on the east coast catered to businesses and had ties to the technology industry and startup companies.

The tech industry has been experiencing difficulties as a result of the precipitous decline in cryptocurrency prices. These are the most significant bank failures since 2008.

Treasury Secretary Janet L. Yellen and JP Morgan Chase’s chief executive, Jamie Dimon, achieved an agreement for the Federal Deposit Insurance Corporation to assume control of both banks following the collapse of the two banks.

The US regulators unveiled extraordinary measures to assuage customers last weekend, promising to completely pay out uninsured deposits in the failed banks.

The insurance benefits indicated to be up to $250,000 have been increased to cover significantly more than the indicated insured quantities.

Thursday, Yellen told the U.S. Senate that not all uninsured deposits would be protected in the event of future bank failures, but ONLY those posed by institutions with systemic risks. Regional institutions are not protected.

Currently, economists estimate that 186 US banks are susceptible to the same dangers as Silicon Valley Bank. This number is likely greater as the pressures that regional banks are confronting are ramping up.

The source of this figure is a recent economic study released on March 13.

The BBC reported, “Wall street’s biggest banks organized a whip-around to bail out another tech-focused bank, San Francisco-based First Republic. And the Federal Reserve, the U.S. central bank said there had been a surge in emergency lending to U.S. banks generally.”

Credit Suisse, a large Swiss bank with a reputation for stability, is reportedly being acquired, and the Bank of England has acknowledged that it is monitoring Credit Suisse’s fate and the prolonged meeting held over the weekend to discuss the situation.

Over twenty private aircraft landed in Omaha on a Saturday afternoon last week, sparking discussion on social media in response to rumors on Twitter about intriguing activity.

The aircraft originated from regional bank headquarters, ski resorts, and Washington, D.C.

The internet speculated that Warren Buffett may have summoned banking CEOs together to offer a deal in light of the activity. Buffett has been in contact with the Biden administration, so the rumor is not completely baseless.

The Biden administration is growing increasingly desperate. The Biden administration reached out to Warren Buffett late last week as the regional banking crisis intensified. The Biden regime is urging Buffett to possibly invest in the US regional banking sector in some fashion.

Via Bloomberg:

Berkshire Hathaway Inc.’s Warren Buffett has been in touch with senior officials in President Joe Biden’s administration in recent days as the regional banking crisis unfolds.

Multiple conversations have occurred between Biden’s team and Buffett in the past week, according to sources who requested anonymity because the information is confidential. The contacts have concentrated on the possibility of Buffett investing in the regional banking sector of the United States, but the billionaire has also provided general advice and direction regarding the current turmoil.

Buffett has a long history of intervening in bank crises, utilizing his cult-like investor status and financial clout to restore confidence in failing companies. Buffett injected capital into Bank of America Corp. in 2011 after its stock plummeted due to subprime mortgage-related losses. Buffett also extended a $5 billion lifeline to Goldman Sachs Group Inc. in 2008, following the collapse of Lehman Brothers Holdings Inc., in order to stabilize the bank.

The White House and Berkshire Hathaway representatives did not immediately respond to requests for comment. The Treasury Department of the United States declined to comment.

According to Liveandletsfly.com, Warren Buffett has previously spoken about opportunities to strengthen the financial sector when they presented themselves in 2008. At the time, Berkshire Hathaway provided $5 billion in liquidity to Goldman Sachs.

Historically, Goldman Sachs stated. The company had the option to repurchase the shares for $5 billion plus a $500 million one-time dividend. Buffett stipulated that the senior executives of Goldman Sachs not sell their own shares before Buffett sold his. Berkshire Hathaway would also acquire warrants to purchase an additional $5 billion at $115 per share of common stock.

The publication noted that both Berkshire and Buffett profited handsomely from that transaction and the subsequent financial sector rescues. If an agreement is in the works, it may be that the arrangement between titans could be a private financial fix that does not place the onus on the taxpayers who are increasingly leery of yet another government rescue plan.

Whether the flight information on Twitter is indicative of such a private plan remains to be seen, and Omaha is the focus of attention.

Latest articles

Judge Rules Against Trump, Claims He Committed Fraud for Years While Building Real Estate Empire

A judge ruled that Donald Trump committed fraud while developing his real estate empire,...

Hillary Clinton Issues Damning Warning To Joe Biden In Private Meeting

Hillary Clinton advised President Joe Biden, in a private conversation, to consider the potential...

Disgust Over What Michelle Obama Just Got Paid $700K To Do…

Former First Lady Michelle Obama, who frequently portrays herself as a figure facing adversity,...

Watch ‘The View’ Co-Host React to Bad News About Dem She’s Known for 30 Years

“The View” co-host Ana Navarro said she was “shaken” after the indictment of Democratic...

More like this